Forecasting is a process of making statements about events whose actual outcomes typically have not yet been observed. A commonplace example might be estimation for some variable of interest at some specified future date. Forecasting often involves formal statistical methods employing time series, cross-sectional or longitudinal data, or alternatively to less formal judgmental methods. Forecasts are often generated by providing a number of input values to a predictive model, where the model outputs a forecast. While a well designed model may give an accurate forecast, a configuration where predictions of multiple models are considered when generating a forecast may provide even stronger forecast results.